Brexit will have a negative financial impact of 615 million pounds a week

Brexit will have a negative financial impact of 615 million pounds a week

19Apr201812:10

A deal between the UK and the EU following Brexit will have a negative weekly financial effect of 615 million pounds, a study by Global Future published in the Guardian has shown.

According to the study, each of four Brexit scenarios will have a negative impact on Britain’s budget.

Thus, the cost of non-tariff barriers will increase by 23 billion pounds. Other costs, including customs barriers, divorce payments and ongoing budget contributions will amount to another 38 billion pounds. Limits on free movement will reduce the economy by another 6 billion pounds. Customs revenue and EU budget savings can add only 27 billion euro to the Treasury.

An option with no deal would cost London 1.25 billion pounds a week. The Canada model - 877 million pounds a week, and the Norway model - 262 million pounds a week.

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